After months of damaging speculation, solar feed in tariff rates will not be altered ahead of schedule. The news comes as a huge relief to both the PV industry and investors. However, if evidence emerges that deployment rates are higher than expected the review will take place earlier.
To date PV deployment rates have been modest, but the publicity around 'free solar' schemes and level of interest in ground-mounted arrays of solar panels suggests that this could change.
Gaynor Hartnell, Chief Executive of the REA
"We are delighted that Government has listened to the REA
. We urged the Government
to look at the evidence rather than be alarmed at the hype. We warned that unjustified and unscheduled cuts
would undermine investor confidence across the whole of the renewables industry, at just the time when investment needs to ramp up. Credit is due to the champions of solar power within Government
, who see the potential of this technology to transform our energy future.
“We are grateful that Ministers have understood our concerns and we look forward to working together with them to ensure that our shared objective – that of steady growth, rather than boom and bust – is realised. We shall discuss concerns openly and find a sustainable path forward."